Global Security Paper Market Is Anticipated To Witness Growth Owing To Increasing Demand In Currency Notes And Growing Demand Of High-End Technology

Security Paper Market

Overview:

Security paper is a special type of paper that is specially designed to be used as a copy proof and to stop forgery. It is used for the printing of important documents like passports, birth certificates, and other important documents. As the world is advancing into a cashless society, security papers are becoming increasingly important. They have many features that help in preventing unauthorized copying. Some of these features include chemical sensitization, scratchable surface, UV-light pattern, and ink eraser.

Forgery is a serious problem in every industry. However, manufacturers are always working to ensure that they are one step ahead of the criminals. Thus, they are developing new technologies to enhance the security of their products. The demand for secure papers is increasing, due to the growing spending on legal services. These papers are also being accepted in the business sector as a solution against product piracy.

Asia Pacific is anticipated to witness significant growth in the global Security Paper Market over the forecast period, owing to growing usage by manufacturers of inkjet printers.

Market Dynamics:

Growing product launches is estimated to augment growth of the global Security Paper Market during the forecast period. For instance, AuthentiGuard Security Paper was launched by Document Security Systems Inc, in February 2020. This new design will help in preventing fraudulent copies and scams. Moreover, rising digitalization in corporate sectors is anticipated to restrain growth of the global security paper for market during the forecast period.

Impact of COVID-19:

The pandemic had an adverse impact on human life. The pandemic resulted in bring the economy to a standstill, loss of GDP and the whole world came to a halt. Governments in several nations imposed strict lockdowns in many parts of the world for preventing the further transmission of the virus.

Businesses were shut down, schools, colleges were closed and many companies shifted to working from home model. This affected the global Security Paper Market drastically. As strict social distancing rules were implemented people avoided meeting and almost every work was done online. This increased the use of digital money and softcopy. There was a dip in the security paper for market. This s restrained the growth of the market during the pandemic.

Key Takeaways:

The global security paper for market is expected to witness high growth, exhibiting CAGR of XX% over the forecast period, due to growing acquisitions by major players. For instance, in February 2021, Pixelle Specialty Solutions LLC acquired Wisconsin-based Appvion Operations Inc., a carbonless rolls and security papers business. After this acquisition, carbonless rolls will now be manufactured by Appvion and security papers will be manufactured by Pixelle.

Major players operating in the global Security Paper Market are Ciotola S.R.L, Fedrigoni Group, Drewsen Spezialpapiere GmbH & Co. KG, Security Printing and Minting Corporation of India Limited, EPL House for Security Printing, De la Rue plc, Sequana Group, Security Paper Limited, China Banknote Printing and Minting Corporation, and Document Security Systems Inc.